Quarry LP Purchases 6,724 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Quarry LP raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 48.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,485 shares of the oil and natural gas company's stock after buying an additional 6,724 shares during the quarter. Diamondback Energy accounts for approximately 0.5% of Quarry LP's holdings, making the stock its 22nd biggest holding. Quarry LP's holdings in Diamondback Energy were worth $3,356,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wintrust Investments LLC acquired a new stake in Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. lifted its stake in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc boosted its holdings in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $136.76 on Friday. The company has a fifty day moving average price of $145.04 and a 200 day moving average price of $162.78. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The firm has a market cap of $40.22 billion, a PE ratio of 7.83, a PEG ratio of 1.24 and a beta of 1.44. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is currently 25.32%.

Analyst Upgrades and Downgrades

FANG has been the topic of several recent research reports. Scotiabank reduced their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho raised their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Barclays dropped their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday. KeyCorp reduced their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, UBS Group decreased their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of "Moderate Buy" and an average target price of $200.96.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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